A joint venture between Prologis Inc. and Norway's sovereign wealth fund acquired a logistics property in Greenford, U.K., from RM Coleview 1 Ltd.
Norges Bank Investment Management paid £35.1 million for a 50% ownership stake in the property, which has a total leasable space of 20,519 square meters. The industrial real estate investment trust, which bought the remaining 50% stake, will be the asset manager.
The partnership also sold two logistics properties totaling 1,035,676 square feet in Savannah, Ga., to Ares Management Corp.'s real estate group.
Norges Bank received $31.5 million for its 45% stake in the properties.